Cover: Financial Industry's Need for Computer Technology in the Seventies.

Financial Industry's Need for Computer Technology in the Seventies.

by David Novick, Morlie Levin

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A panel paper from the UCLA/Informatics Symposium, "Expanding Use of Computers in the 70s." The banking and securities industry will continue to expand rapidly, due not only to the larger number of customers but to the increased number of transactions per account and the larger number of services requiring more paperwork--the shift away from bond purchasing and toward consumer installment loans is an example. The accelerating growth in total transaction volume may make it necessary to reformulate the information process rather than merely automate existing methods. This system redesign will need careful planning and management lest it disrupt the functioning of the economy. It will require expertise going beyond technology and software design into areas of political and legal feasibility, human and organizational behavior, and both micro- and macroeconomics. 4 pp. (MW)

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